Sunday, March 4, 2012

European President Warns Netherlands about Budget Deficit

European president Herman van Rompuy warned the Netherlands that it has has to respect the European budget rules. This in view of its increasing deficit. He added that the financial markets will punish those countries which do not respect the rules. Also, German Chancellor Angela Merkel was critical of the Netherlands. She said that there will be no special easing of the rules for the Netherlands. Dutch Prime Minister Mark Rutte said that the Netherlands will have to respect the rules, but there is some flexibility in them.

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